Putney Financial Group LLC Sells 50 Shares of Adobe Inc. $ADBE

Putney Financial Group LLC reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,056 shares of the software company’s stock after selling 50 shares during the quarter. Putney Financial Group LLC’s holdings in Adobe were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. PFG Advisors grew its stake in Adobe by 20.8% during the first quarter. PFG Advisors now owns 4,964 shares of the software company’s stock valued at $1,904,000 after acquiring an additional 855 shares in the last quarter. Lathrop Investment Management Co. grew its position in shares of Adobe by 2.8% during the 2nd quarter. Lathrop Investment Management Co. now owns 26,544 shares of the software company’s stock valued at $10,269,000 after purchasing an additional 718 shares in the last quarter. Mcdaniel Terry & Co. increased its holdings in shares of Adobe by 2.8% in the second quarter. Mcdaniel Terry & Co. now owns 39,507 shares of the software company’s stock worth $15,284,000 after purchasing an additional 1,093 shares during the period. Financial Counselors Inc. raised its position in shares of Adobe by 9.2% in the first quarter. Financial Counselors Inc. now owns 62,851 shares of the software company’s stock worth $24,105,000 after buying an additional 5,298 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC bought a new stake in Adobe during the second quarter valued at $328,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. Royal Bank Of Canada decreased their target price on Adobe from $480.00 to $430.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Oppenheimer decreased their price objective on shares of Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 9th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Adobe in a research note on Wednesday, October 8th. Finally, Melius cut shares of Adobe from a “hold” rating to a “sell” rating and set a $310.00 price objective on the stock. in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Hold” and a consensus price target of $433.41.

Adobe Stock Up 0.4%

ADBE stock opened at $339.24 on Friday. Adobe Inc. has a twelve month low of $327.50 and a twelve month high of $557.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm has a market cap of $142.01 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49. The business has a 50 day moving average of $351.10 and a 200 day moving average of $368.67.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.